SwedenLivingWorld world_2_fill WorldBusiness BusinessSports sports-soccer SportsEntertainmentEntertain

Bitter stock market week ended bitterly

The Stockholm stock exchange started the day down, turned around when new American labor market statistics were published – but fell back in the late afternoon trading. As a result, the broad OMXS index has closed on minus all days of the week.

» Published: 06 September 2024

Bitter stock market week ended bitterly
Photo: Fredrik Sandberg/ TT

OMXS fell 0.8 percent on Friday, and for the entire past week, it ended at minus 3.8 percent. However, since the turn of the year, OMXS has risen 6.4 percent.

Fewer jobs than expected were created in the USA last month, but the unemployment rate was in line with market expectations and did not come as a negative surprise. How the labor market develops in the USA is considered to have significant importance for how the American central bank proceeds with interest rate cuts, which in turn affects the stock market climate.

In the OMXS30 index of the most traded shares, the decline was broad. Only four companies closed on a plus, including the real estate company SBB and pharmaceutical giant Astra Zeneca, up 1.7 and 0.4 percent, respectively.

Among the major companies, the largest bank Nordea and heat pump manufacturer Nibe fared the worst, both losing 2.2 percent.

Outside OMXS30, the IT and medical company Sectra rose, releasing a report in the morning. The share price increased by 5.0 percent.

Tags
TTT
By TTThis article has been altered and translated by Sweden Herald

More news

Technology stocks drive the market on a cheerful New York stock exchange
2 MIN READ

Technology stocks drive the market on a cheerful New York stock exchange

EU updates Mexico agreement
1 MIN READ

EU updates Mexico agreement

Memorial Ceremony for PG Gyllenhammar
1 MIN READ

Memorial Ceremony for PG Gyllenhammar

Investigation expanded against X
1 MIN READ

Investigation expanded against X

Trump waits to enforce Tiktok ban
3 MIN READ

Trump waits to enforce Tiktok ban

Star Chef Tommy Myllymäki Loses Rental Dispute – Forced to Leave
1 MIN READ

Star Chef Tommy Myllymäki Loses Rental Dispute – Forced to Leave

Better than expected for Saab
1 MIN READ

Better than expected for Saab

Better than expected for Saab
1 MIN READ

Better than expected for Saab

Norwegian giant fund seeks next CEO
1 MIN READ

Norwegian giant fund seeks next CEO

Inflation rise in eurozone confirmed
1 MIN READ

Inflation rise in eurozone confirmed

Bankers to build European transfer system
1 MIN READ

Bankers to build European transfer system

Lower prices on gasoline and diesel
1 MIN READ

Lower prices on gasoline and diesel

NCC Rebuilds Oceana After the Fire
1 MIN READ

NCC Rebuilds Oceana After the Fire

Unexpected setback for British Christmas trade
1 MIN READ

Unexpected setback for British Christmas trade

Solid stock market rise in Stockholm
2 MIN READ

Solid stock market rise in Stockholm

You'll find the cheapest food here
2 MIN READ

You'll find the cheapest food here

China reaches growth target after strong final quarter
2 MIN READ

China reaches growth target after strong final quarter

Down in Japan – up in China
1 MIN READ

Down in Japan – up in China

Upward trend for China's economy
1 MIN READ

Upward trend for China's economy

Down on Wall Street
1 MIN READ

Down on Wall Street